The GDL Fund (NYSE:GDL) Share Price Crosses Above 200-Day Moving Average of $7.90

Shares of The GDL Fund (NYSE:GDL) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.90 and traded as high as $8.08. The GDL Fund shares last traded at $8.08, with a volume of 4,576 shares traded.

The GDL Fund Trading Up 0.2 %

The firm’s fifty day moving average price is $7.97 and its two-hundred day moving average price is $7.90.

The GDL Fund Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 16th will be issued a $0.12 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.48 annualized dividend and a yield of 5.94%.

Institutional Investors Weigh In On The GDL Fund

Several hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC grew its position in The GDL Fund by 3.9% in the 2nd quarter. NewEdge Advisors LLC now owns 121,605 shares of the investment management company’s stock valued at $953,000 after purchasing an additional 4,613 shares during the period. Cornerstone Advisors LLC raised its holdings in shares of The GDL Fund by 9.3% in the 2nd quarter. Cornerstone Advisors LLC now owns 188,288 shares of the investment management company’s stock worth $1,476,000 after acquiring an additional 16,075 shares during the last quarter. Wolverine Asset Management LLC lifted its position in The GDL Fund by 45.6% in the 2nd quarter. Wolverine Asset Management LLC now owns 5,233 shares of the investment management company’s stock valued at $41,000 after acquiring an additional 1,638 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in The GDL Fund by 25.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 61,796 shares of the investment management company’s stock valued at $479,000 after purchasing an additional 12,469 shares during the last quarter. Finally, Park Avenue Securities LLC raised its stake in shares of The GDL Fund by 4.2% in the first quarter. Park Avenue Securities LLC now owns 88,958 shares of the investment management company’s stock worth $708,000 after purchasing an additional 3,581 shares during the last quarter.

The GDL Fund Company Profile

The GDL Fund is a closed-ended equity mutual fund launched by GAMCO Investors, Inc It is managed by Gabelli Funds, LLC. The fund invests in public equity markets across the globe. It invests in stocks of companies operating across diversified sectors. The fund invests in securities of companies involved in publicly announced mergers, takeovers, tender offers, and leveraged buyouts.